Thursday, 5 March 2015

Should Madonna buy a bungalow in Chichester?

So, Madonna took a tumble down some steps at the Brit Awards last week. Hopefully she won’t make a habit of it but if she did plan on wandering around her home in a cape, might she be best on avoiding the stairs altogether and getting a bungalow?

If she wanted to rent one in Chichester she’d be out of luck. Of the four bungalows recently available, they have all been let. That shows that bungalows, not necessarily considered prime buy-to-let properties, are actually in relatively strong demand compared to their weak supply.

There are 13 available for sale, of which four have already sold (less demand there then). They range in price from £230,000 for a 2 bed in Swanfield Drive, up to £500,000 for a 4 bed down Appledram Lane.

There is an argument that bungalows could be a solid investment as we are witnessing an ever-aging population. As a (very) long-term rental property, the current ‘generation rent’ tenants will eventually succumb to the need for a bungalow. Could it be that the trend for shiny new-build flats will make way for a nice simple bungalow as times change? What about all the bungalows that have been demolished in favour of creating two-semis?

That shift in demand seems a very long way off and whilst the evidence shows that bungalows can rent, I’d much rather have a two-storey house than a bungalow and know many of my waiting tenants feel the same.

How do you think shifts in demographics will affect the property market and how can we plan (and benefit) from it?

madonna brits stairs fall bungalow


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